Med tech company to add 50 jobs, spend $65 million in Durham, N.C.

Posted on by Michael Randle

A California-based medical technology company plans to spend $65 million and add more than 50 jobs to its operations in Durham.

The 57,000-square-foot expansion at Science Corp.’s TW Alexander Drive location will support semiconductor manufacturing for new technologies, including for a visual prosthesis.

Science Corp. is in the field of brain-computer irknterfaces. The company is working to restore quality of life to those with debilitating conditions for which there are no treatment options, creating devices aimed at restoring vision, cognition and mobility to patients who have lost it.

Its first product in development, the Science Eye, deploys brain-computer interface technology with the goal of restoring vision to blind patients with retinitis pigmentosa and dry age-related macular degeneration.

Business NC

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Shipbuilder Austal to add over 1,000 jobs at its downtown Mobile, Ala. complex

Posted on by Michael Randle

MOBILE, Alabama — Austal USA announced plans today to expand its Mobile shipyard with the construction of an additional waterfront assembly facility to support the growth of shipbuilding in Alabama’s Port City.

The expansion project, fueled by a capital investment of more than $288 million, is set to create 1,032 new jobs over the next four years, according to the Mobile Chamber.

Austal announced its plans at a ceremonial groundbreaking at its facility this morning.

“This groundbreaking ceremony represents a significant milestone for the city of Mobile, the state of Alabama and the U.S. defense industrial base,” commented Austal USA President Michelle Kruger. “As we have done throughout our history, Austal USA is again expanding our facility to meet the needs of the Nation.”

This infrastructure expansion includes the construction of Final Assembly Building #2 (FA 2). The facility will feature three bays to build large steel modules including the Coast Guard’s Offshore Patrol Cutter (OPC) and the Navy’s TAGOS-25 ocean surveillance steel ships.

MadeInAlabama.com

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Mississippi County, Arkansas Leads the Way in Green Steel Innovation

Posted on by Michael Randle

Industry experts say green steel is the future, and Mississippi County steel plants are leading the way.

Steel manufacturing produces more carbon dioxide than any other heavy industry, responsible for about 8% of total global emissions, according to the World Economic Forum. With eyes on manufacturers to reach net-zero targets and meet ambitious climate goals, green steel is the answer many companies are seeking.

Arkansas steel giants like Blytheville-based Nucor-Yamato, as well as Big River Steel and Hybar of Osceola, are transforming Mississippi County into a hub of recycled steel, renewable energy and innovative technology.

They’re moving production away from traditional pig iron, or iron with a high carbon content, fossil fuels, blast furnaces and other pollution-heavy processes in favor of lighter, greener steel production.

But what exactly is green steel? It can mean a lot of things, but the best definition is “steel with the lowest carbon emissions possible,” according to Dave Stickler, CEO of Hybar.

Arkansas Business

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TVA Funds Six Connected Communities Pilot Projects to Lower Energy Costs, Support STEM and Workforce Development

Posted on by Michael Randle
  • Six pilot projects located across the region were selected for up to $2 million in TVA funding to help communities transition to a cleaner economy.
  • Connected Communities is one of several TVA initiatives designed to help achieve net-zero carbon emissions by 2050.  
  • To learn more about TVA’s Connected Communities initiative, including resources and tools for communities to implement their own Connected Communities initiatives, please visit tva.com/ConnectedCommunities or email your inquiry to ConnectedCommunities@tva.gov.

KNOXVILLE, Tenn. ­—  The Tennessee Valley Authority’s (TVA) Connected Communities initiative announced today funding up to $2 million for six pilot projects that provide STEM education and workforce development training,  increase connectedness, lower energy costs, deliver environmental benefits and increase community resiliency. 

“Connected Communities is a unique initiative that helps communities improve the quality of life for their residents, and we’re excited to see what impact the next round of pilot projects will have on the people we serve,” said Joe Hoagland, vice president of Innovation and Research at TVA.

The six pilot projects awarded funding by the TVA Connected Communities initiative are:

  • Memphis, Tennessee. Engaging Children in the Power of STEM Education and the Career Pipeline: Expanding the technologies at the Wang Experiential Learning Center to equip local students with workforce education and skill development. 
  • Nashville, Tennessee. Connecting Families for Student Success: Enhancing parental access to, understanding of and involvement in their children’s academic journeys.  
  • Ripley, Tennessee. Lighting the Way: Resilient Ripley Microgrid: Building a resilient microgrid to lower energy costs for local city facilities and ensure reliable power during emergencies. 
  • Memphis, Tennessee. Driving Tennessee Forward – EV Technologies: Providing the community with equitable access to EV charging stations and developing a curriculum for students to learn job skills related to EV charging.  Approval in process, expected to be completed this summer.
  • Kilpatrick, Alabama. High-Tech Connect Center: Creating a community-based indoor/outdoor technology center in Kilpatrick, Alabama to provide access to fiber internet, digital literacy training and more.  Approval in process, expected to be completed this summer.
  • Guntersville, Alabama. Connected Community Through Sustainable Service: Transforming an area into a sunrise-to-sunset district that offers a public education space, amenities for residents and guests and an opportunity for students to learn about new, clean technologies.  Approval in process, expected to be completed this summer.

Connected Communities is one of several TVA initiatives designed to help achieve net-zero carbon emissions by 2050. This initiative enables communities’ readiness for a future energy grid. Ensuring communities have access to amenities such as broadband internet, healthy environments, job opportunities and resiliency plans is important as the electric utility industry continues to grow and transition.

Hoagland expressed the importance of community participation in achieving a future low-emissions grid: “So many of our programs rely on things like the internet or innovative technologies. By working with communities to bring partners together to deploy projects that focus on these topics, we’re ensuring our communities are better prepared for the future.”

A total of 27 applications were submitted and evaluated by a diverse group of stakeholders. Of the projects submitted, six projects were awarded grants for the next round of pilot projects. These projects will share over $2 million in grant funding from TVA in 2024 through 2026.

The first call for pilots selected nine pilot projects that ranged in topics from digital literacy classes to professional children’s videos for workforce development to a solar plus storage project. The profound impacts of these pilot projects have benefitted hundreds of people across the region, prompting TVA to release another call for pilots in 2023.  

Georgia Caruthers, Connected Communities initiative lead, explained that continuing to work with communities on important pilot projects is making a significant difference in TVA’s service region. “The first round of pilot projects produced such incredible projects around the region, and the entire Connected Communities team is excited for the new group of pilot projects to hit the ground running,” said Caruthers. “Pilot projects are just one of the ways TVA supports communities, and the positive benefits from these projects leave lasting impacts on the communities they serve.”

The Connected Communities initiative now has more than 20 pilot projects supporting one or more of the four focus areas:

  • Broadband and Digital Literacy: Elevates digital equity and inclusion for everyone by supporting broadband expansion and access to modern technologies. 
  • Economic Empowerment: Supports economic security so the people in TVA’s service region can contribute, to the best of their abilities, to the modern economy. 
  • Energy & Environmental Justice: Promotes access to healthy natural and built environments and reliable, affordable, clean energy for everyone in the TVA service region. 

Enhanced Community Resiliency: Enhances community resiliency through plans and resources that help communities minimize impacts, effectively endure evolving challenges and strengthen recovery strategies for the future.

About TVA

The Tennessee Valley Authority is the nation’s largest public power supplier, delivering energy to 10 million people across seven southeastern states. TVA was established 90 years ago to serve this region and the nation by developing innovative solutions to solve complex challenges. TVA’s unique mission focuses on energy, environmental stewardship, and economic development. With one of the largest, most diverse, and cleanest energy systems – including nuclear, hydro, solar, gas, and advanced technologies – TVA is a leader in our nation’s drive toward a clean energy future.

TVA is a corporate agency of the United States, receiving no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation, and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.

Contact

Adam May
TVA Media Relations
amay0@tva.gov
865-632-6000

TVA Media Line

Our media staff is available 24 hours a day. If you cannot reach the contact above, please call our media line at 865-632-6000.

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Travel + Leisure readers rank Nashville’s top hotels

Posted on by Michael Randle

The Thompson Nashville is travelers’ favorite Nashville hotel.

That’s according to new rankings released as part of Travel + Leisure’s annual World’s Best Awards.

The World’s Best Awards survey was completed by more than 186,000 Travel + Leisure readers this year, scoring hotels based off their rooms, location, service, food and value.

Readers voted the Thompson Nashville the No. 1 hotel in Music City. It steals the top spot from The Joseph, A Luxury Collection Hotel, which was previously ranked No. 1 two years in a row.

The Thompson opened in 2016, marking another step in the evolution and sophistication of the city’s Gulch neighborhood.

Nashville Business Journal

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South Florida CEO buys Lighthouse Point mansion for record price (Photos)

Posted on by Michael Randle

Eric Hochberger, the founder and CEO of digital advertising firm Mediavine, and wife Stephanie Hochberger, an attorney, paid $17.3 million for a waterfront mansion in Lighthouse Point.

The deal was a record price for the city, said John Putzig of Re/Max First, the broker of the transaction.

The James C. Acheson Trust, with Donna Niester as trustee, sold the 7,796-square-foot home at 2900 N.E. 31st Ave. Acheson is the chairman emeritus of Port Huron, Michigan-based developer Acheson Ventures and Niester is the president and CEO.

The price equated to $2,219 per square foot.

The home was built on the 1.68-acre site with 889 linear feet of water on three sides in 2002. This is the first time it has sold.

The home features five bedrooms, 5.5 bathrooms, an office, a pool, two garages, a 110-foot concrete pier, a bar, an elevator and a fireplace.

It’s one of the largest waterfront lots in Lighthouse Point. Demand for luxury homes has increased as more wealthy people move to South Florida, so it’s not surprising that a price record was set.

South Florida Business Journal

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Ford considers $400M new plant in Shelby County, Ky.

Posted on by Michael Randle

Ford Motor Co. appears to be considering a Shelby County for a small, specialized EV component plant.

The plant was mentioned during a recent meeting of the Kentucky Economic Development Finance Authority. It’s referenced in meeting minutes and the Courier Journal reports Gov. Andy Beshear has confirmed it as well.

The project would be an investment of $400 million, the meeting minutes said, all of which qualifies as eligible for tax incentives for the Kentucky Business Incentive program — a state program that gives companies tax breaks on major projects. Another portion, $170 million, would qualify for incentives under the state’s KEIA program, which provides a refund of Kentucky sales and use tax. You can find details on both programs here. According to the minutes, the project would create 260 jobs with an average wage of $36 per hour, including benefits.

Louisville Business First

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Hanesbrands will reduce space by 75%, cut HQ operating cost by half in relocating to downtown Winston-Salem

Posted on by Michael Randle

Hanesbrands Inc.’s recent announcement of the relocation of its headquarters will be a major downsize in both footprint and operating cost, according to information the company shared with its employees today detailing the terms of the move.

Hanes will be moving from 470,000 square feet at its Oak Summit Campus in north Winston-Salem to 121,000 square feet in the top three floors of The Park Building located at 101 N. Cherry St. in downtown Winston-Salem, according to an email obtained by the Triad Business Journal.

By making this move, the company will be downsizing its headquarter space by around 75%. The move in headquarters will also result in a 52% reduction in headquarter operating cost, the email stated.

Triad Business Journal

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This NC region is a hub for fast-growing tech and science startups

Posted on by Michael Randle

Wake Forest Innovation Quarter is fertile ground for life sciences and other tech-oriented start-ups. The more than 240-acre complex grew from Wake Forest University’s need for additional health sciences research space. Local governments, along with Winston-Salem’s other higher ed institutions, led the way in creating inspiring, naturally lit offices, classrooms, labs, fitness facilities, loft apartments and coffee houses.

Innovation Quarter’s second phase, which will double the science park’s square footage, lands Greensboro/Winston-Salem as a top 10 U.S. market for life sciences construction activity, according to a recent ranking by commercial real estate search-engine Commercial Search.

Consuming about half a million square feet at Innovation Quarter is the Wake Forest Institute for Regenerative Medicine (WFIRM). The institute is a global leader in R&D, clinical trials, tech transfer and workforce development surrounding leading-edge health treatments.

Triad Business Journal

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NC no longer top state for business on CNBC list — but it’s close

Posted on by Michael Randle

So much for the high life.

North Carolina has been bumped from the top spot in CNBC‘s annual Top States for Business rankings.

After reaching the pinnacle in 2022 and 2023, the Tar Heel State has been ousted by Virginia, which has taken the top spot six times since CNBC began the rankings in 2007.

So much for the high life.

North Carolina has been bumped from the top spot in CNBC‘s annual Top States for Business rankings.

North Carolina has been at or near the top of the list in recent years — it was No. 2 in 2021 after the rankings took a year off due to the pandemic. The state was No. 3 in 2019 and No. 8 in 2018.

This year, North Carolina earned a spot in the top five in three of the key categories: workforce (third), economy (fourth) and business friendliness (second). But lower rankings for infrastructure (20), quality of life (32) and cost of living (31) kept the top spot out of reach.

CNBC scored all 50 states on 128 metrics in 10 broad categories of competitiveness. Each category was weighted based on how frequently states use them as a selling point in economic development marketing materials.

Charlotte Business Journal

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